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Start Free TrialNegotiable Instruments Act, 1881 Section 141
Title: Offences by Companies
State: Central
Year: 1881
.....Government or State Government or a financial corporation owned or controlled by the Central Government or the State Government, as the case may be, he shall not be liable for prosecution under this Chapter.] (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to, any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation.--For the purposes of this section,-- (a) "company" means any body corporate and includes a firm or other association of individuals; and (b) "director", in relation to a firm, means a partner in the firm.] ___________________ 1. Inserted by Act 66 of 1988, sec. 4 (w.e.f. 1-4-1989). 2. Inserted by Act 55 of 2002, sec. 8 (w.e.f. 6-2-2003).
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 96
Title: Agent for Presentment
State: Central
Year: 1881
When the instrument is deposited with an agent for presentment, the agent is entitled to the same time to give notice to his principal as if he were the holder giving notice of dishonour, and the principal is entitled to a further like period to give notice of dishonour.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 107
Title: Reasonable Time for Transmitting Such Notice
State: Central
Year: 1881
A party receiving notice of dishonour, who seeks to enforce his right against a prior party, transmits the notice within a reasonable time if he transmits it within the same time after its receipt as he would have had to give notice if he had been the holder.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 106
Title: Reasonable Time of Giving Notice of Dishonour
State: Central
Year: 1881
If the holder and the party to whom notice of dishonour is given carry on business or live (as the case may be) in different places, such notice is given within a reasonable time if it is despatched by the next post or on the day next after the day of dishonour. If the said parties carry on business or live in the same place, such notice is given within a reasonable time if it is despatched in time to reach its destination on the day next after the day of dishonour.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 105
Title: Reasonable Time
State: Central
Year: 1881
In determining what is a reasonable time for presentment for acceptance or payment, for giving notice of dishonour and for noting, regard shall be had to the nature of the instrument and the usual course of dealing with respect to similar instruments; and, in calculating such time, public holidays shall be excluded.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 104
Title: Protest of Foreign Bills
State: Central
Year: 1881
Foreign bills of exchange must be protested for dishonour when such protest is required by the law of the place where they are drawn.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 103
Title: Protest for Non-payment After Dishonour by Non-acceptance
State: Central
Year: 1881
All bills of exchange drawn payable at some other place than the place mentioned as the residence of the drawee, and which are dishonoured by non-acceptance, may, without further presentment to the drawee, be protested for non-payment, in the place specified for payment, unless paid before or at maturity.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 102
Title: Notice of Protest
State: Central
Year: 1881
When a promissory note or bill of exchange is required by law to be protested, notice of such protest must be given instead of notice of dishonour, in the same manner and subject to the same conditions; but the notice may be given by the notary public who makes the protest.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 100
Title: Protest
State: Central
Year: 1881
When a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may, within a reasonable time, cause such dishonour to be noted and certified by a notary public. Such certificate is called a protest. Protest for better security.--When the acceptor of a bill of exchange has become insolvent, or his credit has been publicly impeached, before the maturity of the bill, the holder may, within a reasonable time, cause a notary public to demand better security of the acceptor, and on its being refused may, with a reasonable time, cause such facts to be noted and certified as aforesaid. Such certificate is called a protest for better security.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 99
Title: Noting
State: Central
Year: 1881
When a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each. Such note must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or, if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges.
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